Company Overview and News
Lithium Australia NL (ASX:LIT) and Poseidon Nickel (ASX:POS) have signed a memorandum of understanding to jointly evaluate the lithium potential of the Lake Johnston region in Western Australia.
Poseidon Nickel has secured its fourth memorandum of understanding to develop the Lake Johnston nickel project, with today’s move to explore for lithium with Lithium Australia.
Lithium Australia NL (ASX:LIT) and Poseidon Nickel (ASX:POS) has signed a memorandum of understanding to jointly evaluate the lithium potential of the Lake Johnston region in Western Australia.
Poseidon Nickel has entered into an agreement for the formation of a jointly-owned company with Aphrodite Gold, which would own Poseidon’s processing facilities at its Black Swan nickel operation and Aphrodite’s nearby gold tenements.
Aphrodite Gold Ltd (ASX:AQQ) and Poseidon Nickel Ltd (ASX:POS) have entered into an agreement to evaluate the processing of Aphrodite’s gold resource at the Poseidon Black Swan Processing Facility.
TORONTO, ONTARIO--(Marketwired - July 6, 2017) - Crystal Peak Minerals Inc. ("Crystal Peak" or the "Company") (TSX VENTURE:CPM)(OTCQX:CPMMF) is pleased to announce that Herbert E. "Bud" Scruggs, who was elected to the Board of Directors of the Company ("Board") at the last Annual and General Meeting of Shareholders, has been appointed as the non-executive chairman of the Board. In this role, he will help oversee the Company's Sevier Playa Sulphate of Potash Project in southwestern Utah.
Local explorer GTI Resources has terminated plans to acquire Poseidon Nickel’s Windarra gold assets near Laverton, after missing a near-$1 million payment deadline.
Poseidon Nickel expects to spend up to $25 million to restart operations at its mothballed Silver Swan mine near Kalgoorlie, according to a definitive feasibility study released today.
Based on the new 50 metre line spaced data, the majority of the known lithium-tantalum bearing pegmatites are coincidental with ring-like, potassium radiometric anomalies.
Securing the agreement with Kidman is a significant milestone for Poseidon as it will potentially deliver a minimum of $6 million per year in cash for the duration of the contract. Whilst Poseidon remains focussed on developing its nickel assets, the agreement with Kidman offers shareholders a unique opportunity to deliver cash back to the business with little downside risk. The Lake Johnston 1.5 million tonne per annum process plant has the potential of processing lithium hosted pegmatite ores to produce a spodumene concentrate.
Poseidon Nickel has landed an agreement for Kidman Resources to use its mothballed Lake Johnston infrastructure to process lithium ore from the Melbourne-based company’s Mt Holland mine, in a deal potentially worth at least $18.5 million.
There are expected to be 6 companies by end 2017 selling long range (>150 mile) all electric EVs for under USD 37,500.
The company conducted soil and rock chip sampling over an area of 4 square kilometres, collecting 650 soil samples. The results are more than adequate to highlight lithium anomalies and prospective pegmatite zones in preparation for follow-up field investigation, target prioritisation and drill testing. Historic and recent sampling has identified the area as hosting lithium bearing pegmatites with sampling to locate and define the most prospective zones now completed.
This is the second acquisition in just two months' time, so I’m positively surprised by Poseidon’s aggressive expansion plans.
After writing about Panoramic Resources (OTCPK:PANRF) and Western Areas (OTCPK:WNARF), my hunger for a decent nickel company still exists. That's the main reason why I'm currently investigating Poseidon Nickel (OTC:PSDNF) which owns a nickel project in Australia and in its efforts to cut the initial capex, it has secured the Black Swan nickel processing facility, which really is a game changer for this company.
Poseidon Nickel raises $25.5M by issuing 167 million new shares, which is more than what I expected.
The numbers are much better than I expected as both the capex and opex are lower than what I thought they’d be.
This is much cheaper than one would expect, given the existing infrastructure and 150 million pounds of nickel in the ground.
Poseidon Nickel had a busy quarter and isn’t slowing down as it expects a high news flow in the coming weeks and months.
Poseidon Nickel has completed its maiden reserve estimate at the Black Swan nickel project in Australia.
This is a positive surprise as this could shorten the time line to production by 1/3.
Poseidon Nickel signs a milestone agreement with a BHP Billiton subsidiary which agrees to process and buy the company’s Windarra nickel ore.
I expected the company to issue new shares to repay the debt, so this six month extension is obviously a good move.
Poseidon Nickel has made tremendous progress at Lake Johnston as a major resource update and upgrade is expected shortly.
The result is quite decent considering this resource estimate was completed quite fast and it excludes several other zones and new data.
2017-10-20 - Asif
2017-10-20 - Asif
2017-10-20 - Asif
2017-10-20 - Asif